Panel Discussion: Amazon Moving Into Prescription Drug Business?


THANKS FOR WATCHING MID MORNING THIS MONDAY. AMAZON MAY BE MOVING INTO THE PRESCRIPTION DRUG BUSINESS. THEY OBTAINED PHARMACY LICENSES AND A HANDFUL OF STATES ACCORDING TO NBC. THEY WILL DECIDE BY THANKSGIVING IF THEY WILL SELL PRESCRIPTION DRUGS ONLINE. JUST THE MERE MENTION OF THIS CAUSED PHARMACY STOCKS TO GO ON DOWN ON FRIDAY. CVS. YOU KNOW BECAUSE IF YOU HEAR THAT AMAZON, LIKE IF I HEARD AMAZON WAS INTERESTED IN GETTING INTO THE LOCAL NEWS BUSINESS. YOU WOULD BE TERRIFIED. I WOULD PROBABLY SEND THEM A TAPE, BUT, YES, IF I OWNED THAT PLACE I MIGHT BE CONCERNED. SURE. ALI, WE DON’T KNOW WHAT THEY ARE UP TO. NO. BUT IT SEEMS LIKE A BUSINESS WITH A POTENTIAL FOR A PROFIT MARGIN. AND WE’RE SEEING EXPRESS TRIPS TO GET PRESCRIPTIONS. THERE ARE A LOT OF PEOPLE WHO HAVE ACCESS TO HEALTH INSURANCE AND YOU LOOK AT A COMPANY LIKE AMAZON AND YOU DON’T KNOW HOW QUICKLY THEY WILL GET ACCESS TO BE APPROVED TO BEING A PRESCRIPTION DRUG FILLER. OBVIOUSLY WE HAVE INSURANCE HERE THROUGH OUR WORKPLACE. WE CAN ONLY USE CERTAIN PHARMACIES. THAT IS RIGHT. SO THERE IS A LOT — THERE ARE A COUPLE STEPS YOU HAVE TO GO THROUGH. YES AND TALKING TO THE CEOs OF THESE OTHER PRESCRIPTION AND PHARMACY COMPANIES, THEY ARE LIKE SLOW DOWN. IT IS MORE DIFFICULT. YOU CAN USE TARGET AS AN EXAMPLE. THEY TRIED TO GET INTO THAT PHARMACY BUSINESS AND THEY SOLD IT TO CVS BECAUSE IT IS TOO HARD TO MANAGE. AMAZON HAS DISTRIBUTION ALL AROUND THE COUNTRY AND HAVE THEIR AMAZON PRIME PROGRAM WHICH HAS BEEN SUCCESSFUL FOR THEM. YOU WONDER, INSURANCE ISN’T THAT — THE IDEA OF BUYING INSURANCE ISN’T THAT DIFFERENT OF I AM GOING TO SPEND $100 A YEAR FOR THIS BENNETT THAT I AM GOING TO GET. YOU WONDER IF THEY — I THINK THIS COULD BE EXCITING FOR PEOPLE WHO DON’T GET INSURANCE THROUGH WORK IF IT DRIVES DOWN PRICES. IT WOULD DRIVE DOWN THE PRICES. THAT IS WHAT THEY DO GENERALLY. AND A LOT 60 US ARE USED TO MAIL ORDER PRESCRIPTIONS ALREADY SO THAT IS NOT A REAL OBSTACLE. I AM NOT USED TO THEM. I HAVE TO NOW AND I DON’T LIKE IT. I HAVE TO GET ON BOARD WITH IT

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